Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Intangible fixed assets

v3.22.2.2
Intangible fixed assets
12 Months Ended
Sep. 30, 2022
Intangible fixed assets  
Intangible fixed assets

11.    Intangible fixed assets

    

Development

    

Costs

 

$'000

Cost

 

  

At 1 October 2019

 

4,047

Additions

 

4,554

Foreign exchange on translation

176

At 30 September 2020

 

8,777

Additions

 

9,082

Foreign exchange on translation

376

At 30 September 2021

 

18,235

Additions

25,294

Foreign exchange on translation

(3,238)

At 30 September 2022

40,291

Amortisation

 

At 1 October 2019

 

Charge

 

At 30 September 2020

 

Charge

 

At 30 September 2021

 

Charge

At 30 September 2022

Net Book Value

 

  

At 30 September 2022

 

40,291

At 30 September 2021

 

18,235

At 30 September 2020

 

8,777

The Group’s intangible assets under development are internally generated and the Group has not yet begun amortisation of these finite useful economic life assets. $0.474 million (2021: $0.201 million) of these capitalised costs relate to QuantumCloud.

An impairment test was performed for the year ended September 30, 2022, which considered the value of existing contracts and forecasted revenues. No impairment was deemed necessary. The Group will begin amortisation when the intangible assets are available for use.